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The Pamphlet Collection of Sir Robert Stout: Volume 7

XVII.—Lunacy of Investment Members

XVII.—Lunacy of Investment Members.

Lunatic Investment Members. Withdrawal.

In the event of any investment member becoming lunatic, or of unsound mind, no fine shall, during such lunacy or unsoundness of mind, be exacted for arrears of subscriptions on any investment share or shares he may hold; but a committee or guardian of such afflicted member, legally appointed, shall be entitled (after the expiration of twelve calendar months from the commencement of such affliction) to receive the full value of the investments of such member; but in case there shall be no committee or guardian legally appointed, then the party representing such afflicted member shall be entitled, after the first year, but not previously, to receive the amount of such investment, deducting such fine as may have been incurred by such member previously to the time of his becoming lunatic or of unsound mind; subject, however, to any and every condition the Board of Directors, for the security of this Association, may think proper to require from the party applying for the withdrawal of such investments on behalf of the said lunatic or mentally diseased investment member.